Capitalytics

**Regression for 20-year Treasury Yield**

	Dependent variable (+/- SE):

	20-year Treasury Yield

Constant	2.478 (+/- 0.433)
	p = 0.00001^***
US Fed Reserve O-N Loan Rate	-0.443 (+/- 0.107)
	p = 0.0003^***
Real GDP growth	-0.016 (+/- 0.006)
	p = 0.007^***
Real disposable income growth	-0.127 (+/- 0.031)
	p = 0.0003^***
Nominal disposable income growth	0.121 (+/- 0.030)
	p = 0.0004^***
Prime Rate	0.541 (+/- 0.101)
	p = 0.00001^***
Home Price Index	-0.017 (+/- 0.001)
	p = 0.000^***
US Avg Retail Gasoline Price ($-gal; all grades, all formulations)	0.450 (+/- 0.082)
	p = 0.00001^***
6-month Treasury Yield_2	0.093 (+/- 0.019)
	p = 0.00003^***

Observations	40
R²	0.943
Adjusted R²	0.928
Residual Std. Error	0.192 (df = 31)
F Statistic	63.873^*** (df = 8; 31)

Note:	^p<0.1; ^p<0.05; ^**p<0.01